Sales Tax

Federal income taxes started in 1861 but this lapsed after the American Civil War. In 1913, federal taxes came back and have been in place since then.

If you are itemizing deductions (on a schedule A) as opposed to taking your standard deduction you have 2 different ways to deduct taxes paid to the state you live (or work) in. For the State Income Tax Deduction you can deduct the amount of taxes paid in 2007 (any state witholding from a W2, 1099G, 1099R etc., any balance due on a state tax return that you paid in 2007 and any estimated payments you made to your state's dept of revenue). The other method is the General Sales Tax Deduction. The General Sales Tax Deduction can be calculated 2 different ways. You can either add the sales tax you have paid to any state up manually, one receipt at a time. -OR- you can use the Safe Harbor method where you multiply the days you have lived in your state (365 if all year) by the state and local sales tax rate and your income (please refer to line instructions for form 1040 for a more detailed description of this formula) to that figure you will add any sales tax paid on qualified purchases (a house, a car, big ticket items) and that will be you deduction.

24 zeros in septillion. See the Related Link for the number of zeros in other bizarre numbers
Twenty-four.

suppose you have sold a good of 100 rupees. you will charge 12.5% Value added tax over that 100 rupees = 112.5 rupees.

that 12.5 rs. (vat) is your salex tax

This depends on where you are. There is no Federal sales tax, but there are state and local taxes in some places. Usually it is a percentage of the purchase price.

The base rate is 6.25%, but county and municipal governments may impose additional taxes which will raise that rate. Check 'Sources and related links' below for rates per city/county.

5.19 times 10 to the 35th power

To raise money to pay for the runing costs of a country or locality.

Obviously not enough to balance the budget.

what is meant by net price? does it include excise duty? If included, how is it claculated

According to Dimaampao (2005), "taxation is a mode of raising revenue for public purposes. It is not given voluntarily, but is implementing by laws. The people are obliged to pay taxes in proportion to their income or some other source. A good example of tax is the Expanded Value-Added Tax (EVAT), which was fully implemented last November 1, 2005. Expanded Value-Added Tax (EVAT) from the definition itself is a value added tax that increases in its scope. It simply means the increase of tax, which is being paid by the people. This is where the government gets the fund for its program for the country. This law extends the tax base to include the fuel, electricity and transport industries. However, the old value added tax (VAT) law covered most food industries. Compared EVAT with the old one, EVAT increased the tax at rate of 12% unlike the VAT, which is 10% only.

If you purchase items out of state or over the internet and pay less than 5% sales tax, you owe the Commonwealth of Massachusetts the difference between what you paid and 5%. This tax is referred to as Use Tax. More information: http://www.mass.gov/?pageID=dorterminal&L=4&L0=Home&L1=Businesses&L2=Current+Tax+Year+Information&L3=Guide+to+Trustee+Tax&sid=Ador&b=terminalcontent&f=dor_help_guides_abate_amend_trustee_issues_SalesandUse&csid=Ador#OverviewUse

In my state yes. In my state yes.

To calculate, multiply 42.91 x .0725 (42.91 x .0725 = 3.11 Since your question is under "Sales Tax", I assume you want to know how much tax there is on a purchase of 42.91 at 7.25% tax. To calculate, multiply 42.91 x .0725 (42.91 x .0725 = 3.11

The rate was 7.4% at the time of this post. 'Sources and related links' below has the current rate.

currently it's 8.25%

Sales tax is deductible as an itemized deduction (Schedule A), however you can deduct EITHER: -Sales Tax Paid -State income taxes paid Obviously you would want to deduct whichever is higher. This deduction can be very beneficial to people living in states that do not have an income tax, such as Florida.

From the Penn DOT website: "If you hold a valid title issued in another state and, have owned the vehicle at least 6 months before moving to Pennsylvania, you will not be required to pay any sales tax when you register your vehicle in Pennsylvania. If it has been less than 6 months, you will need to provide your sales tax receipt, or remit PA sales tax. Applicants exempt from Pennsylvania sales tax will list the appropriate Sales Tax Exemption reason code in Sections 1A and/or 1B on Form MV-1." Give your niece the NJ sales tax receipt. More information: http://www.dot3.state.pa.us/new_residents/motor_vehicle.shtml

Because it is important.

Capital expenditure = non-deductible

Revenue expenditure = deductible

The tax rules and types generally are different there. Almost all countries ther use something called a VAT (not a sales tax), and generally things purchased for export are not charged this, or the amount collected is refundable by application (normally a simple form) to the country.

Note that European here must pay sales tax and do not get any refunds.

about 28%

https://www.revenue.state.il.us/app/trii/

All sales of tangible personal property in Iowa are subject to sales tax unless exempted by state law. Sales of services are exempt from Iowa sales tax unless taxed (enumerated) by state law.

Labor is not tangible personal property

So what that means, is unless the labor is specifically enumerated as a taxable type of service, than labor is NOT taxable. see http://www.state.ia.us/tax/educate/78539.html#ExemptSales for a listing on labor that requires collection of state sales tax.

13.50